Closer Chrysler, Mercedes ties being planned: report

LONDON (MarketWatch) -- DaimlerChrysler
dcxDAI, +0.68%
won't sell Chrysler and instead is planning an unprecedented sharing of vehicle architecture and parts between Chrysler and Mercedes, The Detroit News reported Monday, citing a secret restructuring plan. The report said Chrysler and Mercedes will collaborate on their next generation of small cars built in the U.S. and Germany, and work is under way on a common sports utility vehicle architecture for the Mercedes M-Class and Chrysler's Jeep Grand Cherokee and Dodge Durango. The company also is planning plant closings, a reduction of factory shifts and employee buyouts aimed at slashing more than 10,000 blue-collar jobs, the report said, with an assembly plant in Newark, Del., and an engine plant in Detroit likely to be closed. Frankfurt-listed shares slipped 0.4%.

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